Are you Running Business from Home? Then Get to Know these Loan Schemes for Women Entrepreneurs in India

Entrepreneurial Tips

Start-ups in India are not only limited to men nowadays. Even our women are starting their start-ups nowadays, especially in urban India. There is an upcoming trend for women professionals to give up their jobs and starting something of their own, though women entrepreneurship in India is still in its infancy stage. Most women based in towns, small cities and rural areas in India, inspite of being skilful or talented, inspite of having a desire to run a business from home, cannot do so as their basic problem is in getting finances. However, the good news is that there are many specialized loan schemes available for women offered by various banks and Government of India, and the best part is that such loans are slightly different with flexible set of terms and conditions.

So, if you are running a business from home, check out these loans exclusively for women

Annapurna Loan Scheme

The State Bank of Mysore offers Annapurna Loan Scheme. As the name suggests, this loan is only for women who want to set up their food catering business, either from home or outside. The loan amount can be used to buy utensils and other kitchen tools and equipment. Under this scheme, a women entrepreneur is given a loan amount, which should be repaid in monthly installments for a period of 36 months, and the first month EMI is exempted. The maximum amount that is granted is Rs. 50,000. The interest rate is base on the prevailing market rate.

Mudra Yojana Scheme For Women

The Govt. of India launched this loan scheme for women wanting to start new enterprises like as beauty parlors, tuition centers, tailoring units, etc. either individually or in a group. The loan doesn’t require any collateral security. There are 3 schemes under this loan: Shishu, with a loan amount of ₹50,000 for the initial stages, Kishor, a loan amount between ₹50,000 and ₹5 lakhs for a well-established enterprise and Tarun, a loan amount of ₹10 lakhs for a well established business but require funds for further expansion. Here, a Mudra card is given which acts as a credit card but the funds available are limited to 10% of the loan amount granted to the woman entrepreneur.

Orient Mahila Vikas Yojana Scheme

Oriental Bank of Commerce offers this loan scheme to those women entrepreneurs who hold a 51% share capital in a proprietary concern, either joint or individually. No collateral security is required for loans and the period of repayment is 7 years. A discounted interest rate of up to 2% is given.

Bharatiya Mahila Bank Business Loan

For all women who want to start their entrepreneurial ventures in retail sector or who want micro loans or SME loans can opt for Bharatiya Mahila Bank Business Loan. The loan amount can be upto ₹20 crores in case of manufacturing industries. Interest rates usually range from 10.15% and higher. Another advantage is that for loans of up to ₹1 crore, no collateral security is required under the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).

Stree Shakti Package for Women Entrepreneurs

SBI branches all over India, which are part of Entrepreneurship Development Programmes (EDP), offer this loan scheme for women entrepreneurs in return of 50% share in the ownership of a firm or business. The loan can be more than 2 lakhs and there is a discounted rate of interest of 0.50% in such amounts.

Dena Shakti Scheme

Dena banks offer Dena Shakti Scheme to those women entrepreneurs in the fields of manufacturing, agriculture, retail stores, micro-credit, or small enterprises. The loan amount can be of maximum up to Rs. 20 lakhs if the business is in retail trade or for education and housing. For micro credit, the maximum loan amount is ₹50,000.

Udyogini Scheme

Punjab and Sind Bank offers Udyogini Scheme for women entrepreneurs in the age group of 18-45 years. The maximum amount of loan is ₹1 lakhs and ₹45,000 per annum for SC/ST women.

Cent Kalyani Scheme

The Central Bank of India offers this scheme to help women in starting a new venture or expanding or modifying an existing business, in village and cottage industries, small and medium enterprises, micro business, self-employed women, agriculture and allied activities, retail trade, and government-sponsored programs. There is no requirement of collateral security or guarantor and any processing fees charge. The maximum loan amount that can be granted is Rs. 100 lakhs.

Mahila Udyam Nidhi Scheme

Punjab National Bank offers Mahila Udyam Nidhi Scheme to provide finances to women entrepreneurs involved in the small scale industries or setting up beauty parlor or day care center or getting loans for purchasing cars, two wheelers etc. These are soft loans that can be repaid over a period of 10 years and the maximum loan amount is Rs. 10 lakhs.

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